MMYT: Bull Flag detected on 7 Jul 2026

MakeMyTrip has entered the Gulf market and launched new segments offering travel solutions to corporates, employees, and travel agents. A bull flag is forming with the stock at $57.35, positioned between support at $52.01 and resistance at $55.15. The pattern quality score of 82.7 reflects solid structure (15.0) and breakout potential (11.8), though volume confirmation is moderate at 9.9. The setup suggests a measured move target to $59.24, representing a conservative 3.3% advance. Win probability of 72.89% indicates favorable odds for breakout completion.

Citi analyst Vijit Jain cut the firm's price target on MakeMyTrip to $70 from $80 on May 20, 2026, while keeping a "Buy" rating. The Q4 quarter was impacted by the West Asia conflict, which weighed on westbound international travel and pushed up domestic airfares. Revenue for the year grew to US$1,043.99 million, but net income fell to US$51.8 million from US$95.1 million, and profit margins compressed. In early June 2026, rumors surfaced that Yatra's founders were exploring a sale of a controlling stake, signaling sector consolidation chatter. Despite margin pressure, analyst bulls maintain coverage, suggesting confidence in long-term travel platform growth recovery.

A successful breakout above resistance at $55.15 would target the conservative measure of $59.24, representing a 3.3% move on breakout completion. The bull flag structure suggests sustained volume confirmation should accompany the breach; a volume ratio near 0.71 relative to the 20-day average may need to expand during breakout. Invalidation occurs below key support at $52.01, a 9.3% downside risk. The 72.89% win probability reflects favorable pattern setup, though near-term execution depends on travel demand recovery outpacing geopolitical uncertainty.

The company is predicted to post an EPS of $0.1, indicating a 76.19% decline compared to the equivalent quarter last year, with revenue up only 0.7% from the prior-year quarter. MakeMyTrip carries a Zacks Rank of #5 (Strong Sell). The RSI reading of 71.82 signals overbought conditions, increasing pullback risk. The biggest immediate risk remains margin pressure from competition and high marketing and tech spending. Recent analyst target cuts reflect downward estimate revisions and geopolitical headwinds affecting international bookings. Current volume at 964K shares trails the 20-day average of 1.35M, indicating weak participation during the rally—a potential warning sign for breakout conviction.

We scan more than 6,000 NYSE and NASDAQ stocks every trading day and compare each detected pattern against a database of 370,000+ historical detections. Every setup is scored across three dimensions: Structure, Volume, and Breakout Readiness. Win probability is a calibrated estimate of how similar historical setups performed over the following 10 trading days. This is a swing trading tool built for multi-day holds. It is not built or tested for day trading.